The present disclosure relates to a method and system for cardless use of an automated teller machine (ATM).
A variety of banking services are available 24 hours a day through existing ATM networks. As such, a user can withdraw funds and/or access other services such as the checking of a balance and the depositing of funds in a plurality of locations at any time of day. However, access to banking services through ATMs is exclusively card-dependent. In other words, without a suitable card and personal identification number (PIN) none of the services provided by ATMs can be accessed by a user.
U.S. Pat. No. 5,650,604 describes a system for transferring funds from a sender to a receiver using an ATM. Although the receiver is not required to use a card, the sender must use a card to initiate the fund transfer. The receiver is then required to enter both the payment amount and a unique security code to access the funds from any ATM.
US2013/0339235 discloses a system for transferring funds from a sender to a receiver over the internet and for the receiver to collect the funds from an ATM using a card. Although the system may identify an ATM near a pick-up location, there is no contemplation of a system for cardless use of ATMs.
There is, therefore, a need to provide an improved method and system for cardless use of an automated teller machine (ATM).